senate Bill S6024C

2011-2012 Legislative Session

Establishes a returning veterans tax credit for businesses that hire veterans and wounded veterans

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Archive: Last Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 19, 2012 referred to ways and means
delivered to assembly
passed senate
May 30, 2012 advanced to third reading
May 23, 2012 2nd report cal.
May 22, 2012 1st report cal.889
May 08, 2012 print number 6024c
amend and recommit to finance
Apr 20, 2012 print number 6024b
amend and recommit to finance
Mar 13, 2012 reported and committed to finance
Jan 11, 2012 print number 6024a
amend and recommit to veterans, homeland security and military affairs
Jan 04, 2012 referred to veterans, homeland security and military affairs

Votes

view votes

May 22, 2012 - Finance committee Vote

S6024C
34
0
committee
34
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Finance committee vote details

Mar 13, 2012 - Veterans, Homeland Security and Military Affairs committee Vote

S6024A
14
0
committee
14
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Bill Amendments

Original
A
B
C (Active)
Original
A
B
C (Active)

S6024 - Details

See Assembly Version of this Bill:
A8837C
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L

S6024 - Summary

Establishes a returning veterans tax credit for businesses that hire veterans and wounded veterans; such tax credit is worth $3,000 per veteran hired or $4,000 for every wounded veteran hired and the total benefit shall not exceed $15,000 annually.

S6024 - Sponsor Memo

S6024 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6024

                            I N  S E N A T E

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs

AN ACT to amend the tax law, in relation  to  establishing  a  returning
  veterans tax credit for businesses that hire veterans

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Section 210 of the tax law is  amended  by  adding  a  new
subdivision 44 to read as follows:
  44.  RETURNING  VETERANS  TAX CREDIT. (A) GENERAL. A TAXPAYER SHALL BE
ALLOWED A CREDIT, TO  BE  COMPUTED  AS  PROVIDED  IN  THIS  SUBDIVISION,
AGAINST  THE  TAX  IMPOSED  BY  THIS ARTICLE FOR EACH VETERAN OR WOUNDED
VETERAN HIRED DURING A TAXABLE  YEAR,  PROVIDED  THAT  SUCH  VETERAN  OR
WOUNDED  VETERAN  IS EMPLOYED FOR THIRTY-FIVE HOURS OR MORE PER WEEK AND
REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
THREE  THOUSAND  DOLLARS PER HIRED VETERAN AND FOUR THOUSAND DOLLARS PER
HIRED WOUNDED VETERAN BUT SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS.
  (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D) DEFINITIONS. AS USED IN  THIS  SUBDIVISION,  THE  FOLLOWING  TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
  (I)  "VETERAN"  SHALL MEAN A PERSON WHO SERVED IN THE ACTIVE MILITARY,
NAVAL, OR AIR SERVICE DURING A PERIOD OF WAR, OR WHO WAS A RECIPIENT  OF
THE  ARMED  FORCES EXPEDITIONARY MEDAL, NAVY EXPEDITIONARY MEDAL, MARINE
CORPS EXPEDITIONARY MEDAL, OR  GLOBAL  WAR  ON  TERRORISM  EXPEDITIONARY
MEDAL,  AND  WHO  WAS  DISCHARGED  OR RELEASED THEREFROM UNDER HONORABLE
CONDITIONS.
  (II) "WOUNDED VETERAN" SHALL MEAN A VETERAN, AS  DEFINED  PURSUANT  TO
SUBPARAGRAPH  (I)  OF  THIS PARAGRAPH, WHO SUSTAINED A SERVICE CONNECTED

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

view additional co-sponsors

S6024A - Details

See Assembly Version of this Bill:
A8837C
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L

S6024A - Summary

Establishes a returning veterans tax credit for businesses that hire veterans and wounded veterans; such tax credit is worth $3,000 per veteran hired or $4,000 for every wounded veteran hired and the total benefit shall not exceed $15,000 annually.

S6024A - Sponsor Memo

S6024A - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6024--A

                            I N  S E N A T E

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation  to  establishing  a  returning
  veterans tax credit for businesses that hire veterans

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Section 210 of the tax law is  amended  by  adding  a  new
subdivision 45 to read as follows:
  45.  RETURNING  VETERANS  TAX CREDIT. (A) GENERAL. A TAXPAYER SHALL BE
ALLOWED A CREDIT, TO  BE  COMPUTED  AS  PROVIDED  IN  THIS  SUBDIVISION,
AGAINST  THE  TAX  IMPOSED  BY  THIS ARTICLE FOR EACH VETERAN OR WOUNDED
VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH:
  (I) VETERAN IS EMPLOYED FOR THIRTY-FIVE HOURS OR  MORE  PER  WEEK  AND
REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (II)  WOUNDED  VETERAN IS EMPLOYED FOR SEVENTEEN AND ONE-HALF HOURS OR
MORE PER WEEK AND REMAINS IN THE EMPLOY  OF  SUCH  TAXPAYER  FOR  TWELVE
MONTHS OR MORE.
  (B)  AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
THREE THOUSAND DOLLARS PER HIRED VETERAN AND FOUR THOUSAND  DOLLARS  PER
HIRED WOUNDED VETERAN BUT SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS.
  (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D)  DEFINITIONS.  AS  USED  IN  THIS SUBDIVISION, THE FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
  (I) "VETERAN" SHALL MEAN A PERSON WHO SERVED IN THE  ACTIVE  MILITARY,
NAVAL,  OR AIR SERVICE DURING A PERIOD OF WAR, OR WHO WAS A RECIPIENT OF
THE ARMED FORCES EXPEDITIONARY MEDAL, NAVY EXPEDITIONARY  MEDAL,  MARINE
CORPS  EXPEDITIONARY  MEDAL,  OR  GLOBAL  WAR ON TERRORISM EXPEDITIONARY

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

view additional co-sponsors

S6024B - Details

See Assembly Version of this Bill:
A8837C
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L

S6024B - Summary

Establishes a returning veterans tax credit for businesses that hire veterans and wounded veterans; such tax credit is worth $3,000 per veteran hired or $4,000 for every wounded veteran hired and the total benefit shall not exceed $15,000 annually.

S6024B - Sponsor Memo

S6024B - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6024--B

                            I N  S E N A T E

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced by Sens. GRISANTI, ALESI, BALL, DeFRANCISCO, GOLDEN, JOHNSON,
  LARKIN, RANZENHOFER -- read twice and ordered printed, and when print-
  ed to be committed to the Committee on Veterans, Homeland Security and
  Military  Affairs  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to  said  committee  --  reported
  favorably  from  said  committee  and  committed  to  the Committee on
  Finance -- committee discharged, bill amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT  to  amend  the tax law, in relation to establishing a returning
  veterans tax credit for businesses that hire veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    Section  210  of the tax law is amended by adding a new
subdivision 45 to read as follows:
  45. RETURNING VETERANS TAX CREDIT. (A) GENERAL. A  TAXPAYER  SHALL  BE
ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE  FOR  EACH  VETERAN  OR  WOUNDED
VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH:
  (I)  VETERAN  IS  EMPLOYED  FOR THIRTY-FIVE HOURS OR MORE PER WEEK AND
REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (II) WOUNDED VETERAN IS EMPLOYED FOR SEVENTEEN AND ONE-HALF  HOURS  OR
MORE  PER  WEEK  AND  REMAINS  IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE
MONTHS OR MORE.
  (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
THREE  THOUSAND  DOLLARS PER HIRED VETERAN AND FOUR THOUSAND DOLLARS PER
HIRED WOUNDED VETERAN BUT SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS.
  (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D) DEFINITIONS. AS USED IN  THIS  SUBDIVISION,  THE  FOLLOWING  TERMS
SHALL HAVE THE FOLLOWING MEANINGS:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

view additional co-sponsors

S6024C (ACTIVE) - Details

See Assembly Version of this Bill:
A8837C
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L

S6024C (ACTIVE) - Summary

Establishes a returning veterans tax credit for businesses that hire veterans and wounded veterans; such tax credit is worth $3,000 per veteran hired or $4,000 for every wounded veteran hired and the total benefit shall not exceed $15,000 annually.

S6024C (ACTIVE) - Sponsor Memo

S6024C (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6024--C

                            I N  S E N A T E

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced by Sens. GRISANTI, ALESI, BALL, DeFRANCISCO, GOLDEN, JOHNSON,
  LARKIN, RANZENHOFER -- read twice and ordered printed, and when print-
  ed to be committed to the Committee on Veterans, Homeland Security and
  Military  Affairs  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to  said  committee  --  reported
  favorably  from  said  committee  and  committed  to  the Committee on
  Finance -- committee discharged, bill amended,  ordered  reprinted  as
  amended  and  recommitted  to  said committee -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee

AN  ACT  to  amend  the tax law, in relation to establishing a returning
  veterans tax credit for businesses that hire veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    Section  210  of the tax law is amended by adding a new
subdivision 45 to read as follows:
  45. RETURNING VETERANS TAX CREDIT. (A) GENERAL. A  TAXPAYER  SHALL  BE
ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE  FOR  EACH  VETERAN  OR  WOUNDED
VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH:
  (I) VETERAN IS A NEW EMPLOYEE AND IS EMPLOYED FOR THIRTY-FIVE HOURS OR
MORE  PER  WEEK  AND  REMAINS  IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE
MONTHS OR MORE.
  (II) WOUNDED VETERAN IS A NEW EMPLOYEE AND IS EMPLOYED  FOR  SEVENTEEN
AND  ONE-HALF  HOURS  OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF SUCH
TAXPAYER FOR TWELVE MONTHS OR MORE.
  (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
THREE  THOUSAND  DOLLARS PER HIRED VETERAN AND FOUR THOUSAND DOLLARS PER
HIRED WOUNDED VETERAN BUT SHALL  NOT  EXCEED  FIFTEEN  THOUSAND  DOLLARS
ANNUALLY.
  (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
IS  CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE TEN SUCCEEDING

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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